US-based Savills Studley has signed a partnership with real estate software provider Leverton to improve the practice of lease administration and portfolio planning for their clients.
The two firms will combine Leverton's Artificial Intelligence-powered data extraction technology with Savills Studley's Knowledge3, the company’s portfolio analysis technology designed for global real estate occupiers.
Leverton's services enable customers to input PDFs of leases and amendments into Leverton’s integration with Knowledge3, which recognises, structures and stores key property metrics.
Compared to a manual data entry, this process reduces the length of the analysis process by approximately 30%, the partners said.
‘Portfolio managers spend several hours a week performing data entry, customizing and integrating data with traditional tools like Microsoft, Excel and Powerpoint in advance of strategy meetings with senior executive teams,’ explained Patrick McGrath, chief information officer and head of client technologies at Savills Studley.
‘Now with a single click or tap, occupiers can examine their business from any angle — whether it’s the operating costs of an entire portfolio or maximizing value at a single property. The time saved in obtaining robust real estate intelligence enables portfolio managers to fast forward to driving strategy, identifying value and strengthening decision making.’
‘For Savills Studley, this tool enables us to skip ahead to the consulting side of what we do, which has saved clients hundreds of millions of dollars in occupancy cost savings,’ he added.
Abhinav Somani, CEO of Leverton, commented: ‘The dynamic capabilities of the Knowledge3 platform will allow our end customers to efficiently visualize and analyse the vast amounts of data that is inside their corporate and legal real estate documents.’